UPDATE 3-Precision Drilling ups 2012 capex, sees Q4 charge

Dec 6 (Reuters) - Precision Drilling Corp raised its 2012 capital budget by 54 percent to help meet strong demand for its services, but Canada’s No. 1 oil and gas driller forecast a fourth-quarter charge as it scraps some of its lower-tier rigs.

High crude oil prices will help push 2012 global energy exploration and production spending to a record high of $598 billion, Barclays Capital said on Monday. This is expected to spur demand for oilfield services companies.

Precision Drilling forecast a capital expenditure of C$1.14 billion ($1.13 billion) for next year, and said it would order 7 new rigs, two of which have already signed long-term contracts.